QRG Capital Management Inc. Lowers Stock Holdings in Republic Services, Inc. $RSG

QRG Capital Management Inc. cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 72.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,121 shares of the business services provider’s stock after selling 56,841 shares during the quarter. QRG Capital Management Inc.’s holdings in Republic Services were worth $4,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new position in shares of Republic Services during the 3rd quarter worth about $25,000. Cranbrook Wealth Management LLC increased its position in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. NewSquare Capital LLC raised its stake in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Republic Services in the 2nd quarter valued at $33,000. Finally, Hilltop National Bank purchased a new stake in shares of Republic Services during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research analyst reports. Oppenheimer set a $256.00 target price on Republic Services in a report on Friday, October 31st. Wells Fargo & Company assumed coverage on Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 price objective on the stock. Citigroup dropped their target price on shares of Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a research report on Friday. Sanford C. Bernstein lifted their price target on shares of Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.23.

Republic Services Stock Up 0.1%

Shares of NYSE:RSG opened at $210.99 on Monday. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 3.45 and a beta of 0.55. The company has a 50 day moving average of $212.61 and a two-hundred day moving average of $223.54. Republic Services, Inc. has a 52-week low of $201.42 and a 52-week high of $258.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Insider Activity at Republic Services

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of Republic Services stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, with a total value of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.